Jay-Z is revered for his business acumen, but the mogul’s Rocawear clothing company is being sued for not paying its bills, according to a story in the New York Post. The line allegedly owes wholesale company iSource NYC nearly $500,000 for garments made in Pakistan and shipped to New York in 2012, according to a lawsuit filed in the Manhattan Supreme Court, as per the Post.
The suit says the items shipped to New York were “were specially ordered goods…[with] the ‘Rocawear’ brand name imprinted on [them],” according to the suit. “Defendant never returned the ROC goods to iSource.” According to the Post’s article, Rocawear paid for approximately half of the $1 million shipment. iSource is seeking the balance owed, as well as 9 percent interest. The bill was due in 2012.
Reps for Rocawear did not return the Post’s request for comment before it published the article, according to the Post.
Rocawear was created by Jay-Z and Damon “Dame” Dash in 1999 and became one of the most popular clothing lines owned by a rapper. In March 2007, Jay-Z sold Iconix Brand Group the rights to Rocawear for $204 million, according to reports. Rocawear partnered with Pharrell Williams’ Billionaire Boys Club line in August 2011.
In January 2012, though, Rocawear laid off half of the staff of its men’s and boy’s apparel division. In August 2012, Jay-Z opened a Rocawear store to Barclays Stadium, where the New Jersey Nets play their home games. Jay-Z reportedly owns less than 1 percent of the NBA franchise, but may have to sell his stake given his status as an owner of Roc Nation Sports, a sports agency that represents professional athletes. The NBA does not allow sports agents to own teams in its association.
RELATED: Jay-Z Opening Rocawear Store In Brooklyn Nets Stadium
Jay-Z is unable to pay off his bills cause he’s broke and too irrelevant to make any back. He should quit rap and start searching for his 9-5!!
His 9 To 5 is called Beyonce.
Jay Z dosen’t own Rocawear………….. Genius
yeah, I didn’t get that either. It even says in the fucking article “Jay-Z sold Iconix Brand Group the rights to Rocawear for $204 million”.
^^this
Why are you drake haters so mad. You are mad that drake is the face of rap and he is the only one thats able to go platinum in a week. Are you mad he has the most number 1 hits in rap and only been in the game a few years. You mad that no1 can make hits like him today and his tours are the highest selling tours out of all rappers right now. You mad everyone wants to hear drake and drake songs are allways the most viewed most talked about and most downloaded. You mad that your favourite rapper will never be as popular and sucessfull as drake is right now. Drake runs rap drake is the face of rap and no rap song will be a song unless drakes on it. DRAKE RUNS RAP YOU HATERS SO STAY MAD
http://www.youtube.com/watch?v=SVuiM3dmw3Y
http://www.youtube.com/watch?v=f6tyx1z31xo
half a milli is nothin for ja rule. lunch money
Ja Rule donates that to the homeless every month
Ja Rule fucking niggas up wit the shiv
Ja Rule took out big foot wit his shiv
When Ja Rule ain’t making hits he’s at applebees buyin out the bar
I think you mean Red Lobster.
Ja Rule is the last real nigga alive
http://www.youtube.com/watch?v=N6zP7nnp-5I
who gives a fuck about any of these hip hop clothing lines anymore. that whole trend was the ‘in’ thing 10+ years ago. seriously, when was the last time you saw someone wearing some ecko or sean john or rocawear or any of those other brands that were super-popular at the beginning of last decade?
Wu Wear > Rocawear
Rule Wear trumps them all.
Ja Rule is so 2013, current, eccentric – 3.5/5.
An enjoyable read.
haha if jay-z still even had anything to do with this he’d probably be able to pay that off straight out of pocket
Haha… Tell Me About It
check out jayzs new album titled ” feel sorry for me so i can brag about money coming soon on i tunes with hit songs called “i make horse faces at mixed girls”.”i really like camron just to trick ya’ and ” i pay puerto rican girls to look like mixed girls.only on i tunes.
thoughtful, humorous 4/5!
also check out eminems new album coming on i tunes with new hit songs titled ” cleaning out my closet 2 ” the i hate mexican people verson ft rob and big”. i wear green and call mixed people monsters ft papoose busta rhymes and 50 cent.also check out dr dres new album detox the green album ft redman with songs called ‘ u follow little kids and diss them in rap song” only on i tunes. do u have dry eyes.
A little scattered, warm in places 2/5
also check out will i am new album titled “im a white boy and i dont care what any one says. with hit songs called “i like fat wigger girls” i ride skateboards” and fuck you mother fucker.
LOL Impressive, simplistic – a must read. 4.5/5
on i tunes now!!!
http://www.youtube.com/watch?v=5SSy-T7ZCQs
Tune in next week when HHDX reports that a clerk in Jay’s mother’s store has an argument with a customer and the article will read like Jay doesn’t respect his fans.
A company Jay-Z is involved in has dispute over toliet paper… Jay-Z doesn’t care about his employees.
End of news “story”
Jay-z’s nephew has a dispute with other classmates Friday morning in a local New York charter school………”Jay-z is being sued for threatening a child”
told em shushes son of a bitches came out the bushes.pissers had a mother fucker god dam it now im on the floor threw the son of a bitch out the mother fucker.
Confusing, unfunny dribble – 0/5
kkk
Neo-classical, racy, ironic supremacy – it works 4/5
I might need to be reminded again… whats 50 grand to a nigga like me???
450k short of the bill
Jay need to change thats line to 500 grand.
http://www.youtube.com/watch?v=pC1YuWwgKP4
http://www.youtube.com/watch?v=QI-KjVLS6Uk
http://www.youtube.com/watch?v=rhkB95J5c9s
http://www.youtube.com/watch?v=2T8E09aAOIc
http://www.youtube.com/watch?v=Fo8tr4DjVaM
http://www.youtube.com/watch?v=hZwsdW6TAl8
Writer, replace “New Jersey” with “Brooklyn.”
http://www.youtube.com/watch?v=_B0_RW5oSI4
http://www.youtube.com/watch?v=5SCtyEOJy0A
http://www.youtube.com/watch?v=H28uibSLdfg
I had to get off the boat so I could walk on water
This ain’t no tall order, this is nothing to me
Difficult takes a day, impossible takes a week
I do this in my sleep
I sold kilos of coke, I’m guessing I can sell CDs
I’m not a businessman
I’m a business, man!
Let me handle my business, damn
its cool, blue ivy can pay the tab
MoRoca money, MoRoca problems…
Psst…People get sued every day. Its one of the fastest ways to get a quick lick in the business world.
#RealTalk